A company uses the periodic system. Beginning inventory was $12,000. At the end of the year (12/31), the following information is available: Total freight-in expenses were $1,000. Freight-out charges, debited as selling expenses, were $925. Goods purchased by the company for $3,000 were returned during the year (the "Purchase returns" account was credited) . The company took $330 cash discounts on purchases (they use the net method). Gross purchases during the year totaled $30,000 The value of goods physically present in stock is estimated to be $10,000; The company recently purchased some goods, which will be delivered in January, from two different suppliers. Supplier A shipped goods for $1,000 FOB-Shipping Point; supplier B shipped goods for $370 FOB-Destination. . The company recently shipped goods for $2,000, FOB-Destination, to be delivered to a customer in January. Which of the following statements are correct? (select all that apply - i.e., just one or as many as all of them) On 12/31 COGS is debited for $27,000 The ending balance of Inventory reported on the balance sheet is $10,000 The journal entries recorded on 12/31 increase the inventory balance by $1,370 On 12/31 COGS is debited for $26,670 the 12/31 journal entries would be the same if the company had used the gross method to record cash discounts on purchases On 12/31, Purchases is credited for $30,000 On 12/31, a Balance sheet account is credited for $1,000 On 12/31, Purchase Returns is debited On 12/31, an income statement account is credited for $925